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Conway leaders will require their final vote on the proposed tax increase Monday night.

If approved, officials the hike would lishou slimming capsule add up to more than $16 per year with an owner-occupied home worth $200,000.

Conway City Council is scheduled to take up the problem in a special 5 p.m. meeting at City Hall.

Officials the increase mostly stems from challenges the town has faced since the last reassessment of local property values.

Every five years, Horry County calculates the value of all property as required by state regulations.

Conway administrator Bill Graham said officials followed the state formula for setting the municipal tax rate during the last reassessment, but a flurry of appeals from recession-strained property owners resulted in a cut in their home values and, consequently, a loss of the amount of taxes collected.

"We lost about $132,000 in billable taxes because the estimated assessed values ended up being, whenever we got to the billing point, a couple of.6 percent less than those projections that we'd originally received," Graham said. "Basically, we took a success like this since 2010. You don't get that back if you do not stretch your millage. We never adjusted."

To create up for all those losses, the city is raising the tax rate by 2.1 mills, which would add up to one more $16.80 every year on an owner-occupied home worth $200,000.

But the city is also tacking on another mill to compensate for losses attached to the newest calculation of property values, which showed an overall decline of just one.2 percent.

Because property values and the millage rate both factor into a resident's tax bill, a decline in values could offset an increase in the millage rate. State regulations is made to prevent local governments from padding their coffers through reassessment.

The process, however, affects each home differently, meaning a $200,000 owner-occupied home that has retained its value would see an annual tax increase of approximately $24.80 - the full weight of the 3.1-mill hike.

Conway Mayor Alys Lawson said the tax increase is essential.

"Our budget is too tight to repeatedly lose those kinds of dollars in our general fund," she said.

Conway leaders' decision to raise taxes comes at the same time the town is committing $500,000 to Coastal Carolina University. The town will pay $100,000 each year for 5 years for naming rights to a boardwalk at the university's new baseball stadium.

When asked about spending half a million dollars at any given time when the city is raising taxes to shore up its budget, Lawson pointed to the impact Coastal has on Conway.

The university goes via a greater than $250 million construction campaign and employs 1,250 people, according to city records. The university is also associated with 727 full- and part-time Conway jobs.

Lawson added that Coastal recently took over a company incubator program for Conway, enhancing the city along the way.

"We checked out the outcome of their building programs on our bottom line and also the economic engine that they are due to the menova qianweisu slimming herbs capsule number of individuals they employ - they're our largest employer in the city - and also the quantity of students - over 10,000 students - they provide reside in our community," she said. "We just analyzed it. -- We felt like the numbers were legitimate and it would be a worthwhile project."